NEW YORK, Jan 10 (Reuters) - Standard & Poor's on Wednesday revised its outlook on Walt Disney Co. to positive, from stable, citing improved performance in the entertainment company's film and TV operations.

A positive outlook means S&P is likely to upgrade Disney's ratings in the next two years.

"We based our actions on Disney's improving credit measures, better performance in filmed entertainment, and a return to profitability in the company's TV operations," said S&P analyst Heather Goodchild.

Disney said late last year that its studio division generated $3.26 billion in global box office revenue in 2006 and claimed the year's top two box office and top three DVD domestic releases for the first time.